Question

The difference between simple intrest and compound interest on a certain sum for 2 years at 5% is 500.find the sum​

Answer 1

Answer:

Assume the sum amount it may be x if want to make equation or Rs 100 if want to solve on propirtionate basis. I solve it by assuming it at Rs.100.

Simple interest for 2 years at 11%PA

I=PXRXT÷100

I=100X11X2÷100

INTEREST= 22

Comoound interest for 2 years at 11%PA

A =P(1+R/100)^T

A=100(1+11/100)^T

A=123.21

Interest=123.21–100=23.21

Difference interest on compound &simple interest on Rs. 100 is

= 23.21–22=1.21

Then diference of Rs. 36 will be on amount of =100÷1.21x36

=Rs. 2975.20